• The Specified Bank Notes (Cessation of Liabilities) Act, 2017

    In order to clarify the confusions created by the cessation of certain indispensable Indian currencies the Union Government had passed an ordinance in 2016 and on 27th February 2017 The Specified Bank Note (Cessation of Liabilities) Act 2017 was enacted through extra ordinary Gazette Notification. This act is a concise act with 13 sections and one chapter specifying every details about holding and transaction of ceased currencies and the consequences and penalties of doing so by any of the citizens in the country.